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Sovereign Wealth Funds Briefing 05.Aug 2011

Posted on 05 August 2011 by VRS |  Email |Print

France’s FSI strategic investment fund has taken a 5 percent stake in French information technology group Bull , it said in a statement on Thursday. FSI executive committee member Bertrand Finet said the fund supported Bull’s management team and strategic plan.
The FSI added it would seek to have a representative on Bull’s board following the stake purchase……………………………………….Full Article: Source

Posted on 05 August 2011 by VRS |  Email |Print

En route to another double-digit annual return, China’s sovereign-wealth fund China Investment Corp. (CIC) last year expanded long-term asset and direct investments while reducing the cash percentage of its global portfolio.
Also noted in CIC’s recently released financial report for 2010 — its third year in business — was a board of directors decision to set targets for cumulative, annual return rates. The board also decided to extend an investment assessment cycle to 10 years from five……………………………………….Full Article: Source

Posted on 05 August 2011 by VRS |  Email |Print

Last year, China’s roughly $200 billion sovereign wealth fund increased its allocation to equities and alternatives while lowering its allocation to cash, the China Investment Corp.’s (CIC) recently released 2010 annual report shows.
“The international investment environment is getting more complicated, and there’s great uncertainties towards sustained global recovery and growth,” CIC Chairman Lou Jiwei said in the fund’s 2010 annual report, referencing factors such as the eurozone crisis and soaring commodities prices……………………………………….Full Article: Source

Posted on 05 August 2011 by VRS |  Email |Print

E. Oppenheimer & Son International Ltd., whose primary asset is a stake in diamond miner De Beers SA, and Singapore-based Temasek Holdings Ltd are forming a joint venture called Tana Africa Capital, according to a notice from the European Commission Thursday.
E. Oppenheimer & Son said it’s in the process of finalizing the deal, which will be formally announced Friday……………………………………….Full Article: Source

Posted on 05 August 2011 by VRS |  Email |Print

CapitaLand, Singapore’s largest listed property developer, has posted a 17-per-cent increase in second-quarter net profit from the corresponding period a year earlier to S$399 million due to higher contributions from projects in Singapore and China.
Revenue rose 25 per cent to S$740.4 million. The company, about 40 per cent-owned by investment giant Temasek Holdings, said yesterday it remained positive on its key Singapore and China markets despite global macroeconomic concerns……………………………………….Full Article: Source

Posted on 05 August 2011 by VRS |  Email |Print

Japan’s foreign reserves rose to $1.15 trillion at the end of July, the Ministry of Finance said on Friday, hitting another record high.
Japanese authorities intervened in the currency market on Thursday for the first time since March to curb rises in the yen that threatened to derail the export-reliant economy’s recovery from a slump triggered by the March natural disaster……………………………………….Full Article: Source

Posted on 05 August 2011 by VRS |  Email |Print

President His Highness Sheikh Khalifa bin Zayed Al Nahyan has issued, in his capacity as Ruler of Abu Dhabi, an emiri decree appointing new board of the Mubadala Development Company.
The new board, which will replace the one whose term was expired, will be chaired by His Highness General Sheikh Mohammed bin Zayed Al Nahyan, and have the following members : Mohammed Ahmed Al Bawardi as deputy chairman, Hamad Al Hur Al Suweidi, Nasser Ahmed Al Suweidi, Khaldoun Khalifa Al Mubarak, who will also act as managing director, Abdul Hamid Mohammed Saeed and Mahmoud Ibrahim Al Mahmoud……………………………………….Full Article: Source

Posted on 05 August 2011 by VRS |  Email |Print

Nigeria’s government has withdrawn 250 billion naira ($1.6 billion) from its excess crude account savings this year, BusinessDay reported, without saying how it got the information.
While recurrent expenditure is meeting budget targets, investment was only 34 percent of the full-year target in the first half of 2011, the Lagos-based newspaper said……………………………………….Full Article: Source

Posted on 05 August 2011 by VRS |  Email |Print

Perhaps it is thus not surprising that the rapidly growing “sovereign wealth funds” (China’s in particular) may turn out to be well-suited to jump-start Africa. They know from their own recent experience that countries going through political transitions must rely on the type of hybrid financial institutions listed above, but with strong expertise in doing due diligence since traditional collateral may be lacking.
Meanwhile, Robert Zoellick, World Bank President, suggested too that Sovereign funds should invest a fraction of their U.S. $3 trillion of assets in Africa as equity, not aid……………………………………….Full Article: Source

Posted on 05 August 2011 by VRS |  Email |Print

Amid mediocre economic news from around the nation and world, it’s encouraging to see the Alaska Permanent Fund Corp. doing well. In fact, it did better than well during the fiscal year that ended June 30, growing more than 20 percent. The fund topped out for the first time with a year-end value that exceeded $40 billion.
This rebound of about $10 billion in two years is attributable to the fund’s decision to stay in the stock market during the financial meltdown of 2008. About half the fund’s value sits in the stock market, and keeping it there was a good call……………………………………….Full Article: Source

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